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(Il Sole 24 Ore Radiocor) – Le European stock exchanges are traveling in positive territory while investors continue to monitor the trend of the quarterly reporting season and, above all, await the meeting of the ECB’s governing council scheduled for January 25th. The market expects the Eurotower to keep interest rates unchanged, while factoring in an overall reduction of 130 basis points this year. So I’m on the rise FTSE MIB of Milan, which remains well above 30,000 points and is supported by Banca Mps. Good too CAC 40 of Paris, the DAX 40 of Frankfurt, theIBEX 35 in Madrid, l’AEX of Amsterdam and the FT-SE 100 from London.
In Asia, meanwhile, stock prices are gaining ground thanks to optimism about a possible intervention by the Chinese authorities to support stock prices, which after the difficult start of the year have fallen close to five-year lows. MSCI’s Asia-Pacific index rose 0.4% but remained down 5% in January, in line with its worst monthly performance since August. Tokyo, on the other hand, fell by 0.8% after the Bank of Japan confirmed its ultra-accommodative monetary policy but indicated that the conditions to start the exit from the current situation of negative rates are starting to occur.
Germany: 2024 growth estimates cut
The German Ifo Institute has cut its growth forecast for Germany in 2024 with GDP expected at 0.7%, down from the 0.9% forecast in mid-December. “Now that the budget committee of the German parliament has approved the federal budget, we estimate that it has enabled further savings of just under 19 billion euros,” says Timo Wollmershauser, head of forecasting at Ifo. «Businesses and families will have a greater burden or receive less aid, and public spending will be cut. This means that the overall environment is more or less in line with what we estimated in our risk scenario for 2024 in December. The economic impact will also probably be of the same magnitude.”
Mps shoots ahead of the accounts, down St with Texas Instruments
Among the main Milanese stocks, a new positive start for Banca Mps in view of the approval of the 2023 budget which could bring surprises on the dividend front. Purchase on Banca Pop Er, Prysmian, Erg e Bpm Bank. Cede Telecom Italia after the shareholder Vivendi wrote to the European Commission to evaluate the role of the Ministry of Economy in the sale of the network. Declining Stmicroelectronics in light of the disappointing indications from Texas Instruments for the first quarter of 2024. The semiconductor group is called to the test on January 25th and analysts expect a solid quarter and a 2023 in line with estimates.
Trend of the BTP / Bund spread
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Spread decreasing in the 155 point area
Declining trend for the spread between BTp and Bund. The yield differential between the benchmark ten-year BTp (Isin IT0005560948) and the German equivalent maturity stood at 155 points from 157 on Tuesday. The yield of the benchmark ten-year BTp also fell, opening trade at 3.88% from 3.92% at the previous closing.
2024-01-24 08:26:15
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